How Does UVXY Work?

Exchange Trade Fund UVXY is a 1.5X leveraged fund that tracks short-term volatility.  To have a good understanding of UVXY (full name:  Ultra VIX Short-Term Futures ETF) you need to know how it trades, how its value is established, what it tracks, and how ProShares makes money running it.  For the last year, UVXY has been the only leveraged long volatility Exchange Traded Fund (ETF) …

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